Most millionaires don't consider themselves wealthy. So what does it really mean to be rich?

Key Highlights

• So what does it really mean to be rich?
• A new Schwab survey finds that only a third of America’s millionaires feel wealthy.
• Ivana Pino · Senior Writer Updated Thu, December 18, 2025 at 11:20 PM GMT+5:30 4 min read By most traditional measures, having a net worth of $1 million should put someone firmly in the “wealthy” category.
• Yet a growing number of millionaires don’t see it that way.
• Just one third (36%) of the nation’s wealthiest citizens — those with at least $1 million in investable assets — consider themselves wealthy, according to Northwestern Mutual’s 2025 Planning and Progress study.